Teleflex (TFX) Q3 FY2022 earnings: revenue $687 million, down 1.9% on the year

Teleflex Inc. (TFX) reported revenue of $687 million for Q3 FY2022, the quarter ended 25 September 2022, down 1.9% on the same quarter a year earlier as this quarter's filing gives it. Net income was $102 million, down 48.8% on the year as this quarter's filing gives it, and diluted earnings per share $2.16. The figures are the company's own, from the 10-Q it filed with the SEC on 27 October 2022.

Revenue

$687 million

-1.9% on the year · -2.5% on the quarter

Q4 FY2020Q3 FY2022

Operating margin

19.3%

34.4% a year earlier

Q4 FY2020Q3 FY2022

Net income

$102 million

-48.8% on the year · -3.4% on the quarter

Q4 FY2020Q3 FY2022

Diluted EPS

$2.16

-48.6% on the year · -3.1% on the quarter

Q4 FY2020Q3 FY2022

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q3 FY2022	Q2 FY2022	Q3 FY2021	On the quarter	On the year
Revenue	687	705	700	-2.5%	-1.9%
Cost of revenue	313	316	n/a	-0.9%
Gross profit	374	389	n/a	-3.8%
Gross margin	54.4%	55.2%	n/a
Research and development	37.8	36.9	n/a	+2.3%
Selling, general and administrative	210	217	n/a	-3.3%
Operating income	132	135	241	-2.0%	-45.0%
Operating margin	19.3%	19.2%	34.4%
Interest expense	13.4	11.4	n/a	+17.1%
Pre-tax income	119	124	n/a	-3.8%
Income tax	17.3	18.4	n/a	-6.0%
Effective tax rate	14.5%	14.9%	n/a
Net income	102	106	199	-3.4%	-48.8%
Net margin	14.8%	15.0%	n/a
Diluted EPS	$2.16	$2.23	$4.20	-3.1%	-48.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2022	Q2 FY2022	Q3 FY2021	On the quarter	On the year
Capital expenditure	20.2	19.4	n/a	+4.3%
Cash from investing	-12.6	-31.8	n/a
Cash from financing	-25.6	-154	n/a
Depreciation and amortisation	56.3	56.7	58.8	-0.7%	-4.2%
Share-based compensation	7.0	7.5	n/a	-6.6%
Dividends paid	15.9	15.9	n/a	+0.0%
Dividend per share	$0.34	$0.34	n/a	0.0%
Diluted shares, weighted	47m	47m	47m	-0.2%	-0.4%
Shares outstanding at period end	47m	47m	47m	+0.0%	+0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2022	Q2 FY2022	Q3 FY2021	On the quarter	On the year
Shareholders' equity	3,895	3,853	3,658	+1.1%	+6.5%
Debt	1,708	1,716	2,050	-0.5%	-16.7%
Operating lease liabilities	99.6	105	n/a	-4.9%
Other liabilities	1,055	1,058	n/a	-0.3%
Total liabilities and equity	6,758	6,732	n/a	+0.4%
Fixed assets	422	429	n/a	-1.6%
Goodwill	2,415	2,461	n/a	-1.9%
Intangible assets	2,176	2,227	n/a	-2.3%
Cash and equivalents	397	308	481	+28.9%	-17.4%
Receivables	391	415	n/a	-5.8%
Inventory	530	511	n/a	+3.8%
Other assets	426	381	n/a	+11.8%
Total assets	6,758	6,732	n/a	+0.4%

Questions

What was Teleflex's revenue in Q3 FY2022?

Teleflex (TFX) reported revenue of $687 million for Q3 FY2022, the quarter ended 25 September 2022, down 1.9% on the same quarter a year earlier as the company restated it.

How much did Teleflex earn in Q3 FY2022?

Net income for Q3 FY2022 was $102 million, down 48.8% on the year, and diluted earnings per share $2.16.

When did Teleflex report Q3 FY2022 results?

Teleflex filed its 10-Q for the quarter ended 25 September 2022 with the SEC on 27 October 2022.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025 †	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	762	642	705	687	758	711	743	746	774	413	419	426	442	414	443	567	569	548	570	568
Cost of revenue	342	295	316	313	336	320	335	330	342	322	333	334	355	159	177	275	262	241	239	199
Gross profit	420	346	389	374	422	391	408	416	431	257	252	260	269	255	266	292	307	307	332	369
Gross margin	55%	54%	55%	54%	56%	55%	55%	56%	56%	62%	60%	61%	61%	62%	60%	52%	54%	56%	58%	65%
R&D	35.8	36.4	36.9	37.8	42.8	41.5	39.4	37.6	35.9	37.3	41.1	38.7	44.6	25.3	26.5	44.3	48.7	44.4	45.1	43.0
SG&A	228	204	217	210	233	233	223	213	261	243	251	247	255	153	138	207	222	226	214	221
Operating income	155	104	135	132	129	115	144	165	82.5	-71.8	51.1	72.0	52.4	75.8	91.1	-62.4	13.9	20.2	72.8	105
Operating margin	20%	16%	19%	19%	17%	16%	19%	22%	11%	-17%	12%	17%	12%	18%	21%	-11%	2%	4%	13%	19%
Interest expense	12.0	10.4	11.4	13.4	19.1	18.3	17.8	23.2	25.8	22.7	21.2	21.1	18.6	18.5	21.7	31.8	28.1	25.7	28.0	21.2
Pre-tax income	143	93.3	124	119	109	97.5	127	150	60.0	-25.8	97.5	131	-127	58.8	70.7	-92.4	-12.4	-3.8	45.1	83.1
Tax rate	11%	17%	15%	15%	29%	21%	12%	8%	48%	n/a	18%	15%	n/a	11%	4%	n/a	n/a	n/a	7%	35%
Net income	128	77.1	106	102	78.6	76.7	111	137	31.1	15.3	80.0	111	-137	95.0	123	-409	-714	-8.2	99.7	927
Net margin	17%	12%	15%	15%	10%	11%	15%	18%	4%	4%	19%	26%	-31%	23%	28%	-72%	-126%	-1%	17%	163%
Diluted EPS	$2.69	$1.63	$2.23	$2.16	$1.66	$1.62	$2.35	$2.90	$0.66	$0.32	$1.69	$2.36	-$2.93	$2.07	$2.77	-$9.24	-$16.15	-$0.18	$2.28	$22.28
Capital expenditure	19.5	13.1	19.4	20.2	26.5	21.8	17.5	24.4	27.7	38.4	34.8	21.2	32.0	24.1	34.6	29.9	n/a	18.8	14.0	21.6
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	200	0.0	300	0.0	0.0	0.0	0.0	250	305
Dividends paid	15.9	15.9	15.9	15.9	15.9	16.0	16.0	16.0	16.0	16.0	16.0	15.8	15.7	15.2	15.0	15.0	15.0	15.1	14.8	13.9
Shares outstanding	47m	47m	47m	47m	47m	47m	47m	47m	47m	47m	47m	46m	44m	44m	44m	44m	44m	44m	42m	40m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 25 September 2022, filed 27 October 2022: the filing.